Michigan Exemptions

[Hope2File]

Any other Michigan filers here? I've been looking over the exemptions and it just seems that it would make much more sense to use the Federal.

We are not homeowners. Am I missing something? It looks like there is no wild card for Michigan, and we wouldn't be able to use the homestead exemption for other property, like we could if we use the federal exemptions. I'm just having a hard time seeing why anyone would use the state exemptions.

[backtoschool]

Any other Michigan filers here? I've been looking over the exemptions and it just seems that it would make much more sense to use the Federal.

We are not homeowners. Am I missing something? It looks like there is no wild card for Michigan, and we wouldn't be able to use the homestead exemption for other property, like we could if we use the federal exemptions. I'm just having a hard time seeing why anyone would use the state exemptions.

I filed in Michigan. Federal exemptions are better than the Michigan state exemptions.

You get to use the homestead exemption for a wildcard, and the car exemption is more generous.

[UpsideDownMI]

In the large majority of cases it is in the debtors best interest to use the federal exemptions instead of state of Michigan exemptions. In all the research that I have done before filing, I have only found a couple of cases that actually used state of Michigan exemptions.

[Ann]

UpsideDownMI.... What part of Michigan did you file in? I'm in Michigan and was just wondering how "tough" are the trustees there?

[jwmc1]

UpsideDown, did you have a 100% repayment in your plan? Was going Pro Se difficult?

[Notes4fr]

I used Federal exemptions. Filed in Western district. Trustee was thorough, but fair!

[jwmc1]

Notes, did you file 7 or 13? Did you use actual or IRS expenses...my expenses are higher in some categories and I am a bit concerned

[Notes4fr]

filed 7. used actual expenses for most (a couple of them were higher, but I had an explanation for why - and wrote them down so I wouldn't "blank" in front of the Trustee!). I did not get any questions about my expenses.

I listened to my lawyer's advice about the different categories. They were my real (expected) amounts, but he said that the Trustee would most likely not allow that much, and would result in questions.

I like my lawyer. He was right!

[UpsideDownMI]

UpsideDownMI.... What part of Michigan did you file in? I'm in Michigan and was just wondering how "tough" are the trustees there?

I filed in the eastern district. I have not had to deal with my trustee yet, so I can't really answer that question. I will let you know what I think of the trustee after I have my 341 in a couple of weeks.

UpsideDown, did you have a 100% repayment in your plan? Was going Pro Se difficult?

My plan is far from a 100% payback. It pays less than 10% to my unsecured creditors. My experience so far has been about what I expected it to be. I didn't think that it would be easy, but I also didn't believe that it would be impossible. I have tried to stay on top my case at all times and when an issue arises I handle it immediately. With that said, I will be in a better position to answer this question when my plan is confirmed.